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Keys to Job Costing so You Can Increase Your Profitability Keys to Better Job Costing in QuickBooks so You Can Increase Your Profitability Helping businesses.

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Presentation on theme: "Keys to Job Costing so You Can Increase Your Profitability Keys to Better Job Costing in QuickBooks so You Can Increase Your Profitability Helping businesses."— Presentation transcript:

1 Keys to Job Costing so You Can Increase Your Profitability Keys to Better Job Costing in QuickBooks so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

2 Keys to Job Costing so You Can Increase Your Profitability Monica Mitchell Muir Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

3 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Keys to Better Job Costing in QuickBooks Common Problems Common Mistakes 4 Keys to Job Costing

4 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Common Problems Under/over estimate job costs Difficulty tracking job costs Lack of confidence in reports Competitive economy Smaller profit margins Time to get tasks done

5 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Common Mistakes Version won’t support what you want Poor Setup Incorrectly using QuickBooks Mis-using or not using items Not using power tools Missing out on good reports

6 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com 1.Essentials QuickBooks version Setup

7 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Version of QuickBooks For feature comparison chart and videos www.muirassoc.com/gic

8 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences Chart of Accounts Classes Items Job Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

9 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences - Jobs Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

10 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences - Payroll Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

11 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences – Sales/Work Order Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

12 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences – T & M Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

13 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Chart of Accounts Job expenses are COGS (including labor costs) Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

14 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Job Cost with Items and Classes instead of so many income and COGS accounts Chart of Accounts

15 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Simplify with Classes

16 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Items are KEY! Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Setup Item to capture costs

17 Keys to Job Costing so You Can Increase Your Profitability Setup is Key Create Jobs in Customer List (Customer:Job) Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

18 Keys to Job Costing so You Can Increase Your Profitability Sales Costs Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com 2. Transactions

19 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Sales Estimates Work Orders Invoices

20 Keys to Job Costing so You Can Increase Your Profitability Enter Estimates in QuickBooks Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Sales

21 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Invoices From Estimate From Work Order Time & Materials

22 Keys to Job Costing so You Can Increase Your Profitability Costs Labor Materials Subs Equipment Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

23 Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Time Tracking Payroll Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

24 Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Timesheets Paycheck Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

25 Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Reports

26 Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Items Purchase Orders Accounts Payable vs Write Check Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

27 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Use Items for Job expenses Materials and Subs

28 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Purchase Orders for tracking what’s due Materials and Subs

29 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Purchase Orders for tracking what’s due Materials and Subs

30 Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Accounts Payable vs. Write Check More reporting options Costs are all in one place Know costs before payment due Easier for cash flow

31 Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

32 Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

33 Keys to Job Costing so You Can Increase Your Profitability Equipment Cost equipment for job – Real data or flat figure – Use for future bidding Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

34 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Equipment

35 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Equipment

36 Keys to Job Costing so You Can Increase Your Profitability Power Tools Add-ons Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com 3. Streamline

37 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com QuickBooks Power Tools Templates – Estimate, Invoice, Purchase Order, Sales/Work Order Batch – Invoices, Timesheets Memorized Transactions – Recurring, Complex, Automatic/not Groups – Items, Memorized Transactions, Reports

38 Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com Add-ons Benefits Does what you need/want more easily Cuts down on double-entry Saves times Fewer errors Can save money Examples Intuit’s Merchant services or payroll Time-tracking:TSheets Industry Specific: CLIP/HindSite/Landscape Mgmt Network Method Integration Transaction Pro Importer Reporting: QQube

39 Keys to Job Costing so You Can Increase Your Profitability 4. Monitor and Analyze Check Points Key Reports Customize Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

40 Keys to Job Costing so You Can Increase Your Profitability Check Points During project After project Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

41 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project Time Costs Invoiced to date Expenses Not Assigned to Jobs Unbilled Costs Committed Costs Cost to Complete

42 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project - Time

43 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project

44 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project

45 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project - Invoiced

46 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com During Project - Invoiced

47 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com After Project Profitability –Job Profitability –Customer Profitability –Product/Service Profitability –Division (Class) Estimated vs Actual Time

48 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com After Project

49 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com After Project – Product/Service

50 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports After Project - Division Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

51 Keys to Job Costing so You Can Increase Your Profitability Key Job Reports After Project - Division Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com

52 Keys to Job Costing so You Can Increase Your Profitability Q &A and More… Helping businesses make dollars & sense with QuickBooks 301-696-1303 www.muirassoc.com FREE Free QB Package of Your Choice Monica Mitchell Muir 301-696-1303 support@muirassoc.com www.muirassoc.com/gic FREE 2 nd Free QB Package of Your Choice with survey


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